Redundancy Benefit definition

Redundancy Benefit means the Benefit, if shown in the Policy Document, provided under Part 7 of this Policy, subject to the Insured meeting the requirements of Part 7.
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Redundancy Benefit means the amount of money that an employee whose employment has been terminated on account of redundancy is entitled to receive from his employer pursuant to section 183 of this Act;
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Redundancy Benefit means the amount of money that an employee whose employment has been terminated on account of redun- dancy is entitled to receive from his employer pursuant to this Act;
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Examples of Redundancy Benefit in a sentence

  • When the Redundancy Benefit is renewed, the 6 month no claim period does not start again.

  • Please ask your tax adviser or the Australian Taxation Office about your own circumstances.GST does not apply to the Disability Benefit but it does to the Redundancy Benefit.

  • If you become involuntarily unemployed during the no claim period, you will not be eligible to claim under the Redundancy Benefit.

  • Choosing your Redundancy Benefit monthly payment amountYour monthly payment amount for the Redundancy Benefit does not need to be the same as your Disability Benefit.

  • Your Redundancy Benefit maximum payment periodThe maximum payment period is 3 months for any one claim while you remain involuntarily unemployed.

  • The total maximum benefit claimable for the same insured person during the life of the Redundancy Benefit is 12 months; for example, 4 lots of 3 months.If a benefit is payable to you for less than a month, payments will be calculated as 1/30th of the amount for each day you are involuntarily unemployed.

  • The Redundancy Benefit is available as an optional cover with Income Protection Cover and is only offered if you are working 20 hours a week in your gainful occupation, averaged over the last 3 consecutive months, at the time of your application.

  • When the Redundancy Benefit is renewed, the 6 month no claim period does not start again.There are some circumstances when we will not pay the Redundancy Benefit, please see Section 4.2.6 When we won’t pay the Redundancy Benefit.

  • You are only covered for the Redundancy Benefit if it is shown on your schedule.The Redundancy Benefit is designed to provide a monthly amount to assist if you becomeinvoluntarily unemployed, subject to the conditions, exclusions and limits of your policy.

  • What is the Redundancy Benefit non-payment period?The Redundancy Benefit has a 30 day non-payment period.


More Definitions of Redundancy Benefit

Redundancy Benefit means any payment or benefit paid or payable to an employee of VLF, VRTC or PTC in connection with his or her redundancy (however such payment or benefit is described) and includes separation payments and any additional superannuation redundancy amount but does not include any leave entitlement.
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Redundancy Benefit. , if selected, means the Redundancy Benefit specified in the Policy Schedule.
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Related to Redundancy Benefit

  • Retirement Benefits means benefits paid by reference to reaching, or the expectation of reaching, retirement or, where they are supplementary to those benefits and provided on an ancillary basis, in the form of payments on death, disability, or cessation of employment or in the form of support payments or services in case of sickness, indigence or death. In order to facilitate financial security in retirement, these benefits may take the form of payments for life, payments made for a temporary period, a lump sum, or any combination thereof;

  • SERP Benefit means the benefit described in Section 5.1.

  • Early Retirement Benefit means the retirement benefit payable to a member following early

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Retirement Benefit means the benefit set forth in Article 5.

  • Monthly Benefit means the monthly amount payable by Lincoln to you if you are Disabled or Partially Disabled.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Termination Benefit means the benefit set forth in Article 7.

  • Disability Benefit means the benefit set forth in Article 8.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Employment benefits means all benefits provided or made

  • Pharmacy benefit manager means a person, business, or

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Last Monthly Benefit means the gross Monthly Benefit payable to the Insured Employee immediately prior to death. Any reductions for Other Income Benefits, or for earnings the Insured Employee received for Partial Disability Employment, will not apply.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Net Benefit means the present value of the Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.

  • Societal benefits charge means a charge imposed by an electric

  • Pharmacy benefits manager means a person that performs pharmacy benefits management.

  • Supplemental Retirement Benefit means the benefit determined under Article V of this Plan.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

  • Disability benefits means any cash payments which are payable to a covered individual for all or part of a period of disability pursuant to P.L.1948, c.110 (C.43:21-25 et al.).

  • Termination Benefits means the benefits described in Section 4.1(b).